NN, Inc. Q2 sales flat at $125.2M; net loss widens to $14.4M; cuts FY guidance

NN INC

2023-Q2 EPS reported -$0.67 revenue$252,294,000

Net loss of $14.4M, up from $8.6M loss a year ago; adjusted net loss $0.08/diluted share.
Adjusted EBITDA of $10.5M (8.4% of sales) vs $10.9M (8.7%) in Q2 2022.
Generated $3.0M free cash flow vs ($2.4M) use in prior year; trailing-year positive.
Revised FY 2023 outlook: sales $485-505M, Adj. EBITDA $40-46M, FCF $7-13M.
Power Solutions op income improved to $2.6M; Mobile Solutions op loss of $1.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NN INC reported the second quarter ended June 30, 2023 results: revenue $125.2 million, net income Net loss was $14.4 million, EPS $0.08 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $125.2 million
Net income: Net loss was $14.4 million
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

high-precision components and assemblies, today reported its financial results for the second quarter ended June 30, 2023. Financial and Strategic Highlights • Net sales of $125.2 million flat versus prior year period; • Operating loss of $4.0 million and Adjusted EBITDA of $10.5 million; • Free cash flow results of $3.0 million with positive free cash flow

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NN INC reported the full year results: revenue $485 million to $505 million. Guidance lowered.

Period: the full year
Revenue: $485 million to $505 million
Guidance: lowered
Result: guidance update

Exact text from the filing

the Company has revised its expectations for financial results for the full year as follows: ◦ Revenue in the range of $485 million to $505 million; ◦ Adjusted EBITDA in the range of $40 million to $46 million; and ◦ Free cash flow in the range of $7 to $13 million.

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Source: SEC EDGAR

accession 0000918541-23-000121

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